Ghana, Afreximbank resolve US$750m debt dispute

The Government of Ghana and the African Export-Import Bank (Afreximbank) have jointly announced the successful resolution of issues relating to a US$750 million debt facility signed in 2022.

The agreement removes a major obstacle in Ghana’s broader debt restructuring programme.

The announcement was made in a joint press release issued on Thursday, December 25, 2025, by the Ministry of Finance and Afreximbank.

According to the statement, both parties reached a mutually acceptable agreement that allows them to continue working together to advance Ghana’s development agenda.

“The Government of the Republic of Ghana, acting through the Ministry of Finance, and the African Export-Import Bank (Afreximbank) are pleased to announce the successful resolution of the issues surrounding the US$750 million facility signed in 2022 to the satisfaction of both parties,” the statement said.

The release added that the outcome enables “both parties to continue to partner for Ghana’s development agenda.”

The resolution follows weeks of uncertainty over how the Afreximbank facility would be treated under Ghana’s debt restructuring framework. Ghana, which recently undertook a comprehensive restructuring of its external debt, had been seeking clarity on the status of the loan as part of efforts to restore fiscal stability and rebuild investor confidence.

Following a challenging debt restructuring exercise, Ghana sought to have the Afreximbank facility treated in the same manner as other restructured obligations, including bilateral loans from China and about US$13 billion in eurobonds.

While debt restructurings typically involve measures such as extended repayment periods, reduced interest rates, or partial write-downs to support economic recovery, Afreximbank initially objected, citing its “preferred creditor status,” similar to that enjoyed by institutions such as the IMF and World Bank.

The disagreement raised concerns about possible delays to Ghana’s debt resolution process and the broader implications for regional lenders, but its resolution is now seen as reinforcing Ghana’s commitment to fiscal discipline and setting a positive precedent for future creditor negotiations.